Overview

China Construction Bank provides a loan to finance the construction of Rose Garden apartment complex

Commitment Year•2015Country of Activity•New ZealandDirect Recipient Country of Incorporation•New ZealandSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2015

Start (actual): Jan 1, 2015

End (actual): Jan 1, 2018

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

China Construction Bank Corporation (CCB)

Receiving agencies

Private Sector

NZ Rose Garden Development

Loan description

China Construction Bank provides a loan to finance the construction of Rose Garden apartment complex

Interest type•Unknown

Narrative

Full Description

Project narrative

At some time prior to 2017, likely in 2015, China Construction Bank provided a loan of an unknown amount to finance the construction of the Rose Garden apartment complex in Albany, New Zealand, the largest apartment development on the North Shore of Auckland. Planning for the building began in 2015, with the complex opening in 2018 after myriad delays and building concerns. Other details, including the terms of CCB's loans, are unclear.